Avoiding Loss Can Be More Important than Making Profits
Wealth Talks · Jesse McFie
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Show Notes
In the 1970's DMSO was very popular with athletes🏃🏽♂️but you had to go to the vacuum store to get it. Where is DMSO today? What about other Fad remedies that come and go?
You can see a similar pattern in the Financial World too. Fads come and go, the Guarantees stick around through thick and thin. Some fads are harmless, but many times the smartest thing you do with a Fad is - avoid it. Just because "everybody is doing it" doesn't mean that automatically becomes a good thing to do. Processionary caterpillars provide a great example on how this habit can be fatal.
When it comes to your money, don't let an overnight fad burn out, taking your life savings along with it. Always make a point to look deeper than the superficial excitement around any proposition.
Resources:
Order Doctoring Data by Dr. Malcom Kendrick on Amazon.com:
Black Swan Video Summary by John McFie: https://www.youtube.com/watch?v=5K74rH0OriI